Launched in 2015, the Carbon XPRIZE is a global competition and challenge to develop breakthrough technologies that convert carbon dioxide (CO2) into valuable products. Pond Technologies, headquartered in Markham, has made it to the second round of competition by proposing to convert carbon dioxide waste emitted from district energy systems into biofuels.
The Pond Technologies team was formed in 2016 to develop new approaches to control emissions and produce new alternatives to fossil fuels at industrial facilities, including district energy plants. Pond Technologies has developed technology that uses algae and the natural process of photosynthesis to transform carbon dioxide emissions into biofuels.
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